Fluence Energy (NASDAQ:FLNC) Hits New 12-Month Low – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price reached a new 52-week low during trading on Monday. The company traded as low as $5.40 and last traded at $5.3850, with a volume of 689,566 shares traded. The stock had previously closed at $5.59.

Analyst Ratings Changes

A number of research firms recently weighed in on FLNC. Susquehanna cut their target price on shares of Fluence Energy from $23.00 to $13.00 and set a “positive” rating for the company in a report on Wednesday, October 14th. Citigroup cut their price target on shares of Fluence Energy from $20.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, October 21st. Robert W. Baird restated an “underperform” rating and set a $3.00 price target (down from $10.00) on shares of Fluence Energy in a research note on Thursday, September 17th. Canaccord Genuity Group reduced their target price on shares of Fluence Energy from $24.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, September 17th. Finally, JPMorgan Chase & Co. dropped their price target on Fluence Energy from $17.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, September 17th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $10.76.

Fluence Energy Trading Up 0.2%

The company has a 50 day moving average price of $8.72 and a two-hundred day moving average price of $14.47. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -9.16 and a beta of 2.77. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 1.34.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The business had revenue of $649.85 million during the quarter, compared to analyst estimates of $818.57 million. During the same quarter last year, the company earned $0.01 earnings per share. Fluence Energy’s quarterly revenue was up 7.9% on a year-over-year basis. On average, research analysts forecast that Fluence Energy, Inc. will post -1.31 EPS for the current year.

Insiders Place Their Bets

In other Fluence Energy news, Director Herman Bulls bought 10,000 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was acquired at an average price of $7.36 per share, for a total transaction of $73,600.00. Following the completion of the purchase, the director owned 169,550 shares of the company’s stock, valued at approximately $1,247,888. This represents a 6.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harald von Heynitz acquired 7,000 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were bought at an average cost of $7.36 per share, with a total value of $51,520.00. Following the completion of the transaction, the director directly owned 65,550 shares in the company, valued at $482,448. This trade represents a 11.96% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd raised its position in Fluence Energy by 194.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 177,037 shares of the company’s stock worth $2,436,000 after buying an additional 116,882 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Fluence Energy by 126.7% in the 2nd quarter. Tidal Investments LLC now owns 207,694 shares of the company’s stock worth $4,129,000 after acquiring an additional 116,064 shares during the period. Bank of America Corp DE boosted its holdings in shares of Fluence Energy by 24.4% in the first quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock valued at $42,460,000 after acquiring an additional 604,983 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Fluence Energy in the first quarter valued at about $19,579,000. Finally, Edgestream Partners L.P. increased its stake in shares of Fluence Energy by 1,086.3% during the first quarter. Edgestream Partners L.P. now owns 385,804 shares of the company’s stock worth $5,309,000 after acquiring an additional 353,282 shares during the period. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Company Profile

Fluence Energy, Inc (NASDAQ: FLNC) is a global energy technology company that develops and deploys energy storage systems and software for electric utilities, renewable energy developers, and commercial and industrial customers. Its solutions are designed to help integrate renewable power, improve grid reliability, manage electricity supply and demand, and support the transition to a more flexible, low-carbon energy system.

The company’s offerings include utility-scale battery energy storage products, renewable-plus-storage solutions, and systems for commercial and industrial applications.